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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000897101-02-000304.txt : 20020425
<SEC-HEADER>0000897101-02-000304.hdr.sgml : 20020425
ACCESSION NUMBER:		0000897101-02-000304
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20020424
ITEM INFORMATION:		Other events
ITEM INFORMATION:		Financial statements and exhibits
FILED AS OF DATE:		20020425

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			APPLIANCE RECYCLING CENTERS OF AMERICA INC /MN
		CENTRAL INDEX KEY:			0000862861
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-HOME FURNITURE, FURNISHINGS & EQUIPMENT STORES [5700]
		IRS NUMBER:				411454591
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0103

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19621
		FILM NUMBER:		02620460

	BUSINESS ADDRESS:	
		STREET 1:		7400 EXCELSIOR BLVD
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55426-4502
		BUSINESS PHONE:		6129309000

	MAIL ADDRESS:	
		STREET 1:		7400 EXCELSIOR BLVD
		CITY:			NINNEAPOLIS
		STATE:			MN
		ZIP:			554264517
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>arca022197_8k.txt
<DESCRIPTION>ARCA FORM 8-K
<TEXT>
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549



                                    FORM 8-K

                                 CURRENT REPORT

                         PURSUANT TO SECTION 13 OR 15(d)
                     OF THE SECURITIES EXCHANGE ACT OF 1934



                         Date of Report: April 24, 2002
                        (Date of earliest event reported)




                  APPLIANCE RECYCLING CENTERS OF AMERICA, INC.
- --------------------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)



         MINNESOTA                      000-19621               41-1454591
- -------------------------------     -----------------     ----------------------
(State or other jurisdiction of        Commission          (I.R.S. Employer
 incorporation or organization)         File No.            Identification No.)


         7400 EXCELSIOR BOULEVARD
         MINNEAPOLIS, MN                                        55426-4517
- --------------------------------------------              ----------------------
(Address of principal executive offices)



                                 (952) 930-9000
- --------------------------------------------------------------------------------
              (Registrant's telephone number, including area code)

<PAGE>


Item 5.        Other Events.
- ------         ------------

         On April 23 2002, Appliance Recycling Centers of America, Inc. issued a
press release announcing its first quarter operating results. The Company
reported revenues of $11,699,000 and net income of $238,000 or $.07 per diluted
share for its quarter ended March 30, 2002. A copy of the press release is
attached as an exhibit to this filing on Form 8-K.


Item 7(c).     Exhibits.
- ---------      --------

99             Press Release dated April 23, 2002, announcing its first quarter
               operating results.


Date: April 24, 2002                    /s/ Linda Koenig
                                        ----------------------------------------
                                        Linda Koenig, Controller

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>arca022197_ex-99.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
                                                                      Exhibit 99


   [LOGO]
   ARCA(R)         APPLIANCE RECYCLING CENTERS OF AMERICA, INC.
INCORPORATED       7400 EXCELSIOR BOULEVARD, MINNEAPOLIS MN 55426 (952) 930-9000


FOR IMMEDIATE RELEASE    FOR MORE INFORMATION CONTACT:
                         EDWARD R. (Jack) CAMERON, CEO
                         (952) 930-9000
                         RICHARD G. CINQUINA, EQUITY MARKET PARTNERS
                         (612) 338-0810

                  APPLIANCE RECYCLING CENTERS OF AMERICA, INC.

                     REPORTS FIRST QUARTER OPERATING RESULTS

APRIL 23, 2002--MINNEAPOLIS, MN--Appliance Recycling Centers of America, Inc.
(OTC BB: ARCI) today reported revenues of $11,699,000 for the first quarter of
2002 ended March 30, an increase of 51% from $7,764,000 in the year-earlier
period. Net income came to $238,000 or $0.07 per diluted share, compared to
$316,000 or $0.11 per diluted share in the first quarter of 2001.

Edward R. (Jack) Cameron, president and chief executive officer, said: "ARCA's
first quarter sales and earnings exceeded our prior financial guidance due to
the above-plan performances of our ApplianceSmart and related recycling
operations. However, ARCA's first quarter earnings were affected by increased
operating expenses, resulting from the past year's growth of our ApplianceSmart
network. At the end of this year's first quarter, we were operating 10
ApplianceSmart factory outlets, compared to six at the same time last year. In
addition, we opened our latest factory outlet, which serves the Columbus, Ohio,
market, in March, and the expenses associated with that store opening were
incurred largely in this year's first quarter."

Cameron added: "The strong retail sales at our ApplianceSmart operation were
attained amid the seasonally softest period of the year for appliance sales and
the continued weakness in the U.S. economy. As a result, we view
ApplianceSmart's solid first quarter results as further evidence of growing
market acceptance of our special-buy retail concept. Our ApplianceSmart
operation also is benefiting from last year's addition of the Maytag and
Frigidaire lines of appliances, which have significantly expanded consumer
choice at our factory outlets."

<PAGE>


Same-store ApplianceSmart sales, a comparison of the five factory outlets open
during the complete first quarters of 2002 and 2001, increased 13%. Total retail
sales increased 55% in the first quarter from the year-earlier period and
accounted for 63% of total first quarter sales.

Appliance recycling revenues increased 43% in the first quarter of 2002 versus
the year-earlier period, due primarily to strong recycling volumes generated by
the California Public Utilities Commission's (CPUC) recycling program that runs
through August 2002. Plans for a 2002 statewide recycling program to be
administered by Southern California Edison Company are currently being reviewed
by California regulatory authorities.

The Company is forecasting second quarter earnings of $0.22 to $0.27 per diluted
share, compared to $0.13 per share in last year's second quarter, paced by the
strength of its appliance retail and recycling operations. The CPUC recycling
program is scheduled to end in this year's third quarter. Reflecting temporarily
reduced concerns about energy shortages, the 2002 Edison program--assuming it is
approved--would be ARCA's primary source of recycling revenues after August.
During the same period of 2001, at the height of the California energy crisis,
ARCA was handling appliance recycling for three residential energy conservation
programs. Consequently, as previously reported, ARCA currently anticipates
reduced recycling volumes for full-year 2002. Full-year earnings will also be
affected by increased investment in the ApplianceSmart retail network as part of
the effort to accelerate the pace by which outlets open for under one year
attain profitability. Given these factors, the Company is forecasting full-year
earnings of $0.35 to $0.45 per diluted share, compared to $0.86 per share in
2001. The Company is pursuing a number of potentially significant recycling
opportunities in other parts of the nation that, if received in a timely manner,
could have a positive impact on ARCA's 2002 operating results.

ABOUT ARCA

Through its ApplianceSmart (www.ApplianceSmart.com) operation, ARCA is one of
the nation's leading retailers of special-buy household appliances, primarily
those manufactured by Whirlpool Corporation. These special-buy appliances, which
include close-outs, factory overruns and scratch-and-dent units, typically are
not integrated into the manufacturer's normal distribution channel.

<PAGE>


ApplianceSmart sells these virtually new appliances at a discount to full
retail, offers a 100% money-back guarantee and provides warranties on parts and
labor. As of April 2002, ApplianceSmart was operating ten factory outlets: four
in the Minneapolis/St. Paul market; three in the Columbus, Ohio, market; two in
the Dayton, Ohio, market; and one in Los Angeles. ARCA is also one of the
largest recyclers of major household appliances for the energy conservation
programs of electric utilities.


                                      # # #


- --------------------------------------------------------------------------------
Statements about ARCA's outlook are forward-looking and involve risks and
uncertainties, including but not limited to: the strength of recycling programs,
the growth of appliance retail sales, the speed at which individual retail
stores reach profitability, and other factors discussed in the Company's filings
with the Securities and Exchange Commission.
- --------------------------------------------------------------------------------


Visit our web site at www.arcainc.com
                      ---------------

<PAGE>


APPLIANCE RECYCLING CENTERS OF AMERICA, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
First Quarter 2002 Results
(000'S OMITTED EXCEPT FOR SHARE AMOUNTS)
(Unaudited)

<TABLE>
<CAPTION>
                                                                   THREE MONTHS ENDED
                                                                   ------------------
                                                                MARCH 30       March 31
                                                                  2002           2001
                                                               ----------     ----------
<S>                                                            <C>            <C>
REVENUES
  Retail                                                       $    7,337     $    4,728
  Recycling                                                         4,100          2,866
  Byproduct                                                           262            170
                                                               ----------     ----------
     Total revenues                                            $   11,699     $    7,764

COST OF REVENUES                                                    7,725          4,610

                                                               ----------     ----------
  Gross profit                                                 $    3,974     $    3,154

SELLING, GENERAL & ADMINISTRATIVE EXPENSES                          3,319          2,390
                                                               ----------     ----------
  Operating income                                             $      655     $      764

OTHER INCOME (EXPENSE)
  Other income                                                          7             21
  Interest expense                                                   (265)          (240)

                                                               ----------     ----------
  Income before provision for income taxes                     $      397     $      545

PROVISION FOR INCOME TAXES                                            159            229

                                                               ----------     ----------
  NET INCOME                                                   $      238     $      316
                                                               ==========     ==========

  BASIC INCOME PER COMMON SHARE                                      0.10           0.14
                                                               ==========     ==========

  DILUTED INCOME PER COMMON SHARE                                    0.07           0.11
                                                               ==========     ==========

  BASIC WEIGHTED AVERAGE NO. OF COMMON SHARES OUTSTANDING           2,311          2,287
                                                               ==========     ==========

  DILUTED WEIGHTED AVERAGE NO. OF COMMON SHARES OUTSTANDING         3,310          2,863
                                                               ==========     ==========
</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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